ICC bans team officials from tweeting during World Cup February 16, 2011 THE ICC HAVE imposed a blanket ban on team officials tweeting during World Cup matches in a bid to cut out any possibility of the social networking site being used as a tool for potential corruption. Following on from the spot-fixing scandal involving Pakistan, the governing body have decided to eliminate the possibility of coaches [...]
Impotence of Serie A must rile Gattuso February 16, 2011 SO WHAT really riled AC Milan pitbull Gennaro Gattuso enough to make him pick a fight with Joe Jordan, a man whose missing front teeth are a permanent testament to his grizzled fearlessness? Insults, as the Gattuso camp suggest, perhaps. But this was evidently a man also tormented by defeat, by the humiliation of being [...]
King lifts lid on inflation error February 16, 2011 Inflation was higher than official figures suggested throughout the housing bubble and credit boom, the Bank of England admitted yesterday. Consumer price inflation was 0.3 per cent higher than previously thought every year between 1997 and 2009, due to errors on clothing prices. Sales prices were wrongly assumed to be the norm, distorting the Office [...]
Bankers on Sanofi deal bag $125m February 16, 2011 Advisers to the $20.5bn-plus (£12.75bn) Sanofi-Aventis takeover of US biotech firm Genzyme will walk away with an estimated $125m in fees, corporate finance house Freeman & Co said yesterday. Banking teams for both sides, which include JPMorgan and Goldman Sachs, will earn around $60m each for the nine months of work it took to close [...]
Fed boost for US recovery February 16, 2011 POSITIVE data from the US has caused the Federal Reserve to raise its forecasts for economic growth, it was revealed last night. “Participants generally expressed greater confidence that the economic recovery would be sustained,” the Fed revealed in minutes of its last rate setting meeting in January. The GDP growth forecast was increased to a [...]
Why the devil is always in the detail February 16, 2011 AT LAST, proof of what we had all been suspecting: official measures of inflation have failed to pick up actual price rises. Yesterday’s Inflation Report from the Bank of England contained a fascinating gem: the revelation that consumer price index (CPI) inflation has been underestimated by 0.3 per cent a year for the past 12 [...]
Watchdog powers grow February 16, 2011 REGULATORS are to get significant new powers when the Financial Services Authority is split into three next year, it was reported yesterday. The new agencies, including the powerful consumer protection body to be led by Martin Wheatley, head of Hong Kong’s regulator, will be able to tell a bank or broker’s investors of planned action [...]
What the other papers say this morning February 16, 2011 FINANCIAL TIMES OAKTREE RETURNS INVESTOR’S CASH Oaktree Capital’s distressed investment fund has returned $3bn of the $10bn it raised from investors, reflecting its difficulties in finding opportunities as the economy improves, people familiar with the matter say. The fund, run by Bruce Karsh, was among the most aggressive buyers of distressed debt after the failure [...]
Milan star cites provocation but facing long ban February 16, 2011 EUROPEAN chiefs will meet on Monday to decide on an appropriate punishment for AC Milan captain Gennaro Gattuso. The 33-year-old shoved Tottenham assistant manager Joe Jordan in the face following a second-half altercation with Steven Pienaar and then headbutted the 59-year-old after the final whistle. Gattuso’s agent, Claudio Pasqualin, said Jordan had provoked the midfielder [...]
Head of Growth Fund named February 16, 2011 Private equity veteran Stephen Welton is to become chief executive of the UK banks’ new £2.5bn Growth Fund, it was confirmed to City A.M. yesterday. Welton, currently at global private equity firm CCMP Capital, will work alongside BAA chairman Sir Nigel Rudd at the investment fund, which will invest in growing UK companies.
